Home sales strike a pace heading into the new year

Portland, ME – Sales of existing homes remained stable and healthy according to the week’s monthly report from Maine Listings

The number of units sold last month was up 7.87% over January of 2016 with Realtors across the state selling 959 homes, with a median sales price (MSP) of $190,000, up 8.26% on last year. The MSP indicates that half of the homes were sold for more and half sold for less.

National sales of single family homes rose 3.7% over 2016. According to the National Association of Realtors, the national MSP for those homes reached $230,400 in January – an increase of 7.3%.

The national MSP increase marks the 59th consecutive monthly year-on-year gains. Housing inventory numbers, meanwhile, moved in the other direction recording a decline in supply for the 20th month in a row when comparing figures for the same month the previous year.

Regionally, sales in the Northeast were up 6.7% last month compared to January 2016 and the regional MSP increased 2.5% to $253,800.

Home prices go up while supply is down: Find out why right now might be this year’s sweet spot if you’re a home seller – call us today on 207-553-2662, don’t wait as time is quite literally money!